Season the short ribs all over with salt and black pepper. Heat 1 tablespoon of the olive oil in a large saucepan or Dutch oven over medium-high heat and add the short ribs. Sear on both sides until dark brown, about 4 minutes per side. Add the beer, 2 cups of water (or enough to cover the ribs about two-thirds of the way up with the liquid) and rosemary and cover tightly. Reduce the heat to low and simmer until fork-tender, about 2 hours. (Alternatively, you can place in a preheated 325° oven for the same amount of time). When the beef is fork-tender and cool enough to handle, remove from the liquid (reserving the liquid) and shred into small pieces. Discard any excess fat from the ribs. You should have 4 to 5 cups of shredded beef.

Heat the remaining olive oil in a separate saucepan or Dutch oven over medium heat until sizzling hot and add the onions. Reduce the heat to low and cook, stirring, until soft and golden brown, about 10 minutes. Add the red bell pepper and jalapenos and cook, stirring often, until peppers are soft, about 5 minutes more. Add the garlic and cook, stirring, about 1 minute more.

Add the shredded beef, chili powder, cumin and basil and continue to cook, stirring, about 4 minutes more.

Stir in the broth, tomatoes, Worcestershire sauce, tomato paste, bay leaves, and red pepper flakes, and season with salt and black pepper to taste. Bring to a low boil and reduce the heat, simmering, until the liquid has reduced slightly and the flavors have time to meld, about 1 hour.

Remove the bay leaves from the chili and discard. Add the beans and continue to cook until the beans have heated through, about 15 minutes more. Serve warm with a dollop of sour cream or yogurt, grated cheese and chopped fresh cilantro or scallions.